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  If you’ve been following the housing market in 2024, you know it’s been a wild ride. Mortgage rates have remained stubbornly high, home prices are still elevated, and many buyers and homeowners have been stuck in a frustrating holding pattern. But last week, something changed— mortgage rates dropped to their lowest level in four months , sparking a surge in refinancing activity. If you’ve been waiting for the right moment to refinance, this could be your best opportunity in months. Here’s what’s happening, why it matters, and what you should do next. Why Did Mortgage Rates Suddenly Fall? The average  30-year fixed mortgage rate  fell to  6.67%  last week—down  10 basis points  from the previous week. While that might seem like a small shift, even a modest dip can translate into  hundreds of dollars in savings per year  for homeowners. What Triggered the Drop? Weakening Job Market Data  – Recent reports showed slower job growth, suggest...